J.F. Lehman & Company Acquires IMECO, Inc.

NEW YORK, Jan. 4, 2013 /PRNewswire/ -- J.F. Lehman & Company ("J.F. Lehman"), a leading middle-market private equity firm focused on the defense, aerospace and maritime sectors, announced today that certain of its investment affiliates have acquired IMECO, Inc. ("IMECO" or the "Company") of Iron Mountain, MI, in partnership with Company management.

IMECO is a leading independent domestic provider of turnkey marine electro-mechanical solutions for U.S Government and commercial customers. The Company's integrated maritime solutions include the design, engineering, planning, procurement and installation of HVAC, cargo handling, electric steering, propulsion and fire suppression systems for government and commercial vessels.

Roy Arnold, President of IMECO, stated, "J.F. Lehman & Company is an excellent partner for IMECO given the firm's unique expertise and relationships as well as capital to accelerate our growth. We look forward to continuing IMECO's proud history of providing innovative solutions to the maritime market."

"We are excited to be partnering with IMECO's management team," said Alex Harman, Partner at J.F. Lehman. "IMECO has built a highly respected brand name and outstanding reputation with U.S. shipyards by providing innovative, high quality engineered systems on a turnkey basis. The Company fits well with our firm's investment mandate and our existing portfolio of maritime services investments. We look forward to building on IMECO's tradition of success and expanding their position as a leading independent supplier of electro-mechanical solutions to the U.S. marine industry."